Robert Kiyosaki, best known as the author of the bestselling financial book Rich Dad, Poor Dad, has once again delivered a sharp critique of the global financial system, warning that younger generations are being trained to work for what he calls “fake money.” Instead, he argues, investors should prioritize hard assets such as Bitcoin, gold, silver, and oil.

Speaking on a podcast hosted by Bitcoin Collective co-founder Jordan Walker, Kiyosaki said it was “criminal” that children are taught to pursue careers and retirement plans based on an inflationary currency. “Poor people are poor because they don’t understand what real money is,” he said. “Our academic system indoctrinates kids to work for fake money—go to school, get a job, save, and invest in a 401(k) full of garbage.”

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Kiyosaki likened central banks to “criminal organizations” that enrich the wealthy while eroding the middle and lower classes through constant money printing. “Every time you print this fake stuff, guys like me get richer, but the poor and middle class get poorer,” he added.

Kiyosaki at FreedomFest in July 2024. Source: Wikimedia Commons

Data from the U.S. Bureau of Labor Statistics underscores his point: $1,000 saved between August 2000 and August 2005 lost nearly half its purchasing power due to inflation. Meanwhile, Bitcoin has appreciated by over 900% in the past five years, now trading near $117,200.

Kiyosaki on Bitcoin: “I Wish I Had Bought More”

While he was initially skeptical of digital assets, Kiyosaki revealed that he began buying Bitcoin when it was priced around $6,000 and now holds approximately 60 BTC—worth roughly $7 million today. “I keep asking myself, ‘Why didn’t you buy more?’” he admitted.

Beyond Bitcoin, Kiyosaki uses proceeds from his rental properties to accumulate oil, gold, silver, and Ethereum, seeing them as safeguards against currency debasement. In April, he predicted Bitcoin could reach $1 million within the next decade, though he has also warned in the past that hard assets like gold, silver, and Bitcoin could see corrections—moments he intends to use to buy even more.

Despite his bullish stance, Kiyosaki has urged caution around ETFs, labeling them “paper assets” vulnerable to systemic risks, even if they remain the easiest entry point for retail investors.

Inflation Drives Crypto Adoption Globally.....

Kiyosaki’s concerns about “fake money” echo realities in countries hit hardest by inflation. Venezuela, for example, faces an annual inflation rate of 229%. Citizens increasingly rely on stablecoins such as Tether (USDT) for daily transactions, as the local bolívar loses value at a rapid pace.

Argentina has also come under scrutiny, with economists predicting that devaluation of the peso could push citizens toward the U.S. dollar and Bitcoin. “The risk is exponential currency debasement,” noted Bitcoin Standard author Saifedean Ammous, adding that Bitcoin may serve as the ultimate hedge.

Macro investor Raoul Pal echoed this sentiment, advising investors to hold more crypto and NFTs as protection against a system he believes is “designed to debase currencies.”